HSBC's former markets head launches tech buyout firm

The ex-global head of markets at HSBC recently set up an acquisition vehicle to buy and consolidate tech companies serving the buyside

By

Anna Irrera

June 6, 2014 Updated: 5:37 p.m. GMT

Mike Powell, a former global head of markets at HSBC, has established an acquisition vehicle to buy and consolidate financial technology companies in the wealth, asset management and insurance sectors.

The new company, called TECHSQR, will buy underperforming software firms in Europe and North America, targeting opportunities created by financial regulation and new technologies.